Spain’s CNMV Warns The Public Against Unregulated Firm Trading Forex
- CNMV has issued a warning against Trading Forex, adding it to the list of entities forbidden to solicit their services.
The CNMV, Spain’s securities markets watchdog, has updated its warning list to include foreign exchange broker, Trading Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term. The latest addition follows the inclusion earlier this month of another unregistered firm, Tiger Asset Management, as part of the watchdog's attempts to curtail the activities of unauthorised financial services entities soliciting their services to the public.
Account Suspended
Finance Magnates attempted to visit the website in question but it was evident that the company’s account had been suspended, therefore no further details are currently available. We also found no evidence of Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term by any other jurisdiction.
In the CNMV’s statement today, the watchdog pointed out that Trading Forex is not authorised to provide the investment services detailed in the Securities Markets Law, which includes investment advice or the provision of auxiliary services including transactions on foreign currency.
The CNMV’s role is to inform investors that investing through non-authorised companies implies a high risk of suffering capital losses since they operate outside the controls of supervisory authorities. Its latest warning against Trading Forex warns the public not to deal with this firm as it is not authorised to offer investment services, including forex, in Spain.
The CNMV, Spain’s securities markets watchdog, has updated its warning list to include foreign exchange broker, Trading Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term. The latest addition follows the inclusion earlier this month of another unregistered firm, Tiger Asset Management, as part of the watchdog's attempts to curtail the activities of unauthorised financial services entities soliciting their services to the public.
Account Suspended
Finance Magnates attempted to visit the website in question but it was evident that the company’s account had been suspended, therefore no further details are currently available. We also found no evidence of Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term by any other jurisdiction.
In the CNMV’s statement today, the watchdog pointed out that Trading Forex is not authorised to provide the investment services detailed in the Securities Markets Law, which includes investment advice or the provision of auxiliary services including transactions on foreign currency.
The CNMV’s role is to inform investors that investing through non-authorised companies implies a high risk of suffering capital losses since they operate outside the controls of supervisory authorities. Its latest warning against Trading Forex warns the public not to deal with this firm as it is not authorised to offer investment services, including forex, in Spain.